EBANX Launches Payment Initiator Service for Brazilian Merchants via Pix

International payments for rising market companies Ebanks Licensed by Central Bank of Brazil Provide payment initiation services via Brazilian instant payment platforms Pix.

EBANX is now licensed as a Payment Initiation Service Provider (PISP). As a result, the payments giant can expand the range of services it offers to its customers.

EBANX can also make payment initiation services available to over 500 merchants across Brazil. The service allows a merchant to initiate and complete payments using pix within his website or app. This eliminates the need for the merchant to obtain his own PISP license from the Central Bank of Brazil.

The Pix instant payment system was created by the Central Bank of Brazil in 2020 as part of the “Open Banking Agenda”. This system is already used by about 75% of Brazilians. Brazil’s central bank has introduced it to accelerate digital payments and financial inclusion across the country.

EBANX’s new features aim to make Pix payments safer for millions of Brazilian consumers by providing an easier payment process and faster and more affordable payments.

When a consumer chooses to pay using Pix, the transaction is initiated by the company itself. In this case, payments are initiated through his EBANX software platform. Because of this, the consumer does not have to scan her QR code to access the bank’s app and complete the payment. Instead, customers are automatically directed to an authentication screen in their banking app. This speeds up authentication and makes payments easier.

Streamlining payment processes in Brazil

Erica Daguani, EBANX’s vice president of product explained the importance of the move. Users no longer have to leave her website or app at the store, log into the bank’s app, copy and paste the QR code, or check if everything is correct. Payments with his Pix in digital commerce will be much smoother this way.

Pix as a payment initiator is another example of the central bank’s focus on improving the user experience and usability of Pix. This is a major advancement for the alternative payments industry in Brazil. We are very pleased to be able to facilitate access to real-time payments in an easy and secure way for our consumers.

of ebanks Beyond borders 2022/2023 Research shows that the Pix payment platform accounts for more than 16% of total e-commerce turnover in Brazil.